SIFL proposes to raise Rs 10 billion through public issue of secured NCDs

Srei Infrastructure Finance Limited (SIFL) has filed the draft shelf prospectus with the markets watchdog the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for its proposed secured redeemable NCDs of face value Rs 1,000 each, aggregating Rs 10 billion. Funds raised will be used for the company’s lending and financing activities, business operations and to repay existing loans. The NCDs will be issued in one or more tranches, subject to the shelf limit in accordance with the terms and conditions set out in the separate prospectus for each tranche. The company plans to list the proposed NCDs, rated BWR AA+ by Brickwork Ratings India, on BSE and NSE.